Why Is FuboTV Stock Trading Down Friday?

Benzinga03-01

FuboTV Inc (NYSE:FUBO) shares are trading higher after the company reported fourth-quarter fiscal 2023 results. Sales grew 28.5% Y/Y to $410.18 million, beating the consensus of $397.8 million.

Adjusted EPS loss of $(0.17) beat the consensus loss of $(0.31).

The company’s gross margin stood at 10%, an 888 bps Y/Y improvement. Also, it witnessed a 662 bps reduction in subscriber-related expenses (SRE) as a percentage of revenue to 86.5% on continued progress in optimizing content costs.

North America Streaming: Revenue grew 29% Y/Y to $401.8 million as paid subscribers grew 12% Y/Y to 1.618 million. Average revenue per user (ARPU) rose 15% Y/Y to $86.65.

Rest of the World Streaming: Revenue was $8.4 million, an 18% Y/Y jump, with a paid subscriber decline of 3% Y/Y.

FuboTV ended the quarter with $251 million in cash, cash equivalents, and restricted cash.

Outlook: FuboTV expects first-quarter revenue of $371.6 million – $383.6 million (versus consensus of $393.6 million) and fiscal 2024 revenue of $1.536 billion – $1.560 billion (versus consensus of $1.624 billion).

Investors can gain exposure to the stock with ProShares Trust ProShares Metaverse ETF (NYSE:VERS) and IShares Robotics And Artificial Intelligence Multisector ETF (NYSE:IRBO), which gained 2.4-3.7% last month.

Price Action: FUBO shares are down 5.6% at $1.95 on the last check Friday.

Photo: courtesy of FuboTv.

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Also, it witnessed a 662 bps reduction in subscriber-related expenses (SRE) as a percentage of revenue to 86.5% on continued progress in optimizing content costs.</p>\n<p><strong>North America Streaming:</strong> Revenue grew 29% Y/Y to $401.8 million as paid subscribers grew 12% Y/Y to 1.618 million. 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Sales grew 28.5% Y/Y to $410.18 million, beating the consensus of $397.8 million.\n...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/24/03/37422774/why-is-fubotv-stock-trading-down-friday\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0238689110.USD","symbol_name":"贝莱德环球动力股票基金","start_time":0,"source_url":"https://www.benzinga.com/news/earnings/24/03/37422774/why-is-fubotv-stock-trading-down-friday","article_id":"2416644956","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2416644956","pubTimestamp":1709305468,"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"FuboTV reported strong Q4 results with sales up 28.5%, EPS loss of $(0.17), and gross margin improvement. 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Sales grew 28.5% Y/Y to $410.18 million, beating the consensus of $397.8 million.\nAdjusted EPS loss of $(0.17) beat the consensus loss of $(0.31). \nThe company’s gross margin stood at 10%, an 888 bps Y/Y improvement. Also, it witnessed a 662 bps reduction in subscriber-related expenses (SRE) as a percentage of revenue to 86.5% on continued progress in optimizing content costs.\nNorth America Streaming: Revenue grew 29% Y/Y to $401.8 million as paid subscribers grew 12% Y/Y to 1.618 million. 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